Another departure comes for Goldman Sachs as its FICC head is expected to leave.

The US-based investment banking conglomerate, Goldman Sachs, will reportedly see the departure of its head of Fixed Income, Currencies and Commodities (FICC), Joseph Mauro, who will be leaving the bank, according to sources quoted by a Business Insider article.

Early this year, Goldman Sachs had planned to cut 10% of its fixed-income workforce, as covered by Finance Magnates in a related post, following coverage from the Wall Street Journal. The company had dismal results in its last reported quarter, and may be taking further measures to increase its earnings amid challenging market conditions.

Mr. Mauro gained attention after a memo he sent to junior staff at Goldman Sachs was widely circulated, in which he tried to reframe the perspective of the industry and the firm’s related layoffs, and included some unexpected infographics used to illustrate his points.

An excerpt of the internal memo started with a chart of the company’s stock price since its IPO in the late ’90s which occurred after Mr. Mauro joined in 1998, meant to provide context in his message to associates to start with the company’s initial history.